Operating Activity Within Reportable Segments |
The table below (in thousands) presents the operating activity of our reportable segments: | | | | | | | | | | | | | | | | | | Three Months Ended September 30, | | Nine Months Ended September 30, | | 2013 | | 2012 | | 2013 | | 2012 | Office Segment | | | | | | | | Rental revenue | $ | 130,339 |
| | $ | 127,423 |
| | $ | 386,424 |
| | $ | 380,888 |
| Rental expense | (46,494 | ) | | (44,293 | ) | | (130,525 | ) | | (127,684 | ) | Segment profit | 83,845 |
| | 83,130 |
| | 255,899 |
| | 253,204 |
| | | | | | | | | Multifamily Segment | | | | | | | | Rental revenue | 19,347 |
| | 18,570 |
| | 57,436 |
| | 54,961 |
| Rental expense | (5,157 | ) | | (4,999 | ) | | (15,108 | ) | | (14,860 | ) | Segment profit | 14,190 |
| | 13,571 |
| | 42,328 |
| | 40,101 |
| | | | | | | | | Total profit from all segments | $ | 98,035 |
| | $ | 96,701 |
| | $ | 298,227 |
| | $ | 293,305 |
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Reconciliation Of Segment Profit To Net Income Attributable To Common Stockholders |
The table below (in thousands) is a reconciliation of the total profit from all segments to net income attributable to common stockholders: | | | | | | | | | | | | | | | | | | Three Months Ended September 30, | | Nine Months Ended September 30, | | 2013 | | 2012 | | 2013 | | 2012 | Total profit from all segments | $ | 98,035 |
| | $ | 96,701 |
| | $ | 298,227 |
| | $ | 293,305 |
| General and administrative expense | (6,546 | ) | | (6,610 | ) | | (20,724 | ) | | (20,051 | ) | Depreciation and amortization | (47,402 | ) | | (46,546 | ) | | (141,528 | ) | | (139,071 | ) | Other income | 2,138 |
| | 626 |
| | 4,165 |
| | 2,027 |
| Other expenses | (1,402 | ) | | (436 | ) | | (2,777 | ) | | (1,445 | ) | Income (loss), including depreciation, from unconsolidated real estate funds | 811 |
| | (663 | ) | | 3,335 |
| | (2,764 | ) | Interest expense | (32,601 | ) | | (36,844 | ) | | (97,832 | ) | | (110,996 | ) | Acquisition-related expenses | (290 | ) | | — |
| | (533 | ) | | — |
| Net income | 12,743 |
| | 6,228 |
| | 42,333 |
| | 21,005 |
| Less: Net income attributable to noncontrolling interests | (1,992 | ) | | (1,173 | ) | | (5,865 | ) | | (4,037 | ) | Net income attributable to common stockholders | $ | 10,751 |
| | $ | 5,055 |
| | $ | 36,468 |
| | $ | 16,968 |
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